Lummis Asset Management LP Has $3.54 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Lummis Asset Management LP lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,601 shares of the information services provider’s stock after selling 2,712 shares during the period. Alphabet accounts for about 4.5% of Lummis Asset Management LP’s investment portfolio, making the stock its 6th biggest holding. Lummis Asset Management LP’s holdings in Alphabet were worth $3,542,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Weiss Asset Management LP bought a new position in Alphabet in the third quarter worth approximately $25,000. Abich Financial Wealth Management LLC raised its stake in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new position in Alphabet in the third quarter worth approximately $33,000. HWG Holdings LP bought a new position in Alphabet in the second quarter worth approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. raised its stake in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the transaction, the chief accounting officer now owns 17,847 shares of the company’s stock, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock valued at $24,368,654 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

NASDAQ:GOOG opened at $197.55 on Monday. Alphabet Inc. has a one year low of $131.55 and a one year high of $202.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $2.42 trillion, a price-to-earnings ratio of 26.20, a PEG ratio of 1.21 and a beta of 0.99. The firm’s fifty day moving average is $185.92 and its two-hundred day moving average is $174.85.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same period in the prior year, the company posted $1.55 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group upped their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. UBS Group upped their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.